By Ben Kerrigan-
Brussels has given Britain two to three weeks to determine when it will pay the Brexit divorce settlement.
Brussels has giving Britain two to three weeks to determine when it will pay the Brexit divorce settlement. The deadline is meant to prepare the bloc for timely transition talks at a crucial summit in December. “We need to know soon,” one senior EU negotiator said. “There isn’t much time, there are no shortcuts.” The deadline is designed to increase pressure on Downing Street, and is expected to be a crucial talking point when EU negotiators meet for the sixth round of Brexit talks in Brussels. The UK wants talks on transition to begin as soon as possible so that businesses’ fears about a cliff-edge Brexit can be resolved a year before the departure date of March 29 2019.
The EU’S estimated bill is €60bn , but British officials want to ensure that any big payments will be matched by a workable transition deal in December. One EU diplomat described it a “chicken and egg” dilemma, saying the EU’s decision to commence drafting guidelines will depend on the level of progress Britain shows in the process by the end of November. Meanwhile, all indications are that this may stretch out to December before anything is properly finalised. The transition guidelines are expected to lay out the detailed conditions for a transition arrangement beyond March 2019. Those conditions would outline the basic terms of a deal, assuring businessmen assurance to businesses as they near crucial decisions on contingency plans.
If negotiations on money stall beyond the scheduled EU timetable slips, a final transition deal may be affected.Among the list of requests is a “settled status” application process for 3 million EU nationals in Britain, beginning only once a transition period ends. Uk Foreign Secretary, Boris Johnson, has already promised that EU nationals already in the UK who have contributed to the economy at the time of the referendum in 2016, will allowed to settle in Britain .